Three-Story
For Sale
$515,000
Ab-3237 Real St, Houston, TX 77087
Both residences are leased and include appliances, laundry equipment, and living room furniture.
Property Size3,068 SF
Price / SF$167.86
Days on Market18
Property Features for Ab-3237 Real St
General Information
Standard status
Active
Size
3,068 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,414
Building Details
Year Built
2022
Listing Agency:
Central Metro Realty
(512) 454-6873
Listed By:
Gabriela Paiz Gomez
(832) 652-0028
Source:
Exprealty
Added: Sep 19
Changed: Oct 4
Last Checked: Oct 5 at 7:39PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Central Metro Realty
Investment Insights
Based on property information with market context.
Completed in 2022, this 3,068-square-foot duplex contains two three-story residences. Each offers three bedrooms, three and a half bathrooms, multiple parking spaces, and a 50-gallon water heater. Refrigerators, washers, dryers, other appliances, and living room furniture are included for each side. Both units are leased, and the property has no HOA.
The duplex is approximately 10 to 15 minutes from Downtown Houston.
The duplex is approximately 10 to 15 minutes from Downtown Houston.
Key Highlights
- 3,068‑square‑foot duplex completed in 2022
- Both units are leased
- Each three‑story unit has 3 bedrooms and 3.5 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,184
Cap Rate
7.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$803,680
$803.7K
Cap Rate 7%
$574,057
$574.1K
Cap Rate 9%
$446,489
$446.5K
Market Conditions
NOI Build-Up for 3,068 SF
Gross rent
$60.7K $19.80/SF
− Vacancy
−$3.3K −$1.09/SF
EGI
$57.4K $18.71/SF
− OpEx
−$17.2K −$5.61/SF
NOI
$40.2K $13.10/SF
Area
Houston, TX
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$803,680
Cap Rate 7%
$574,057
Cap Rate 9%
$446,489
Alternative Uses
Best Use
Multifamily LT 5
$574.1K
$502.3K – $669.7K
NOI $40,184 @ 7.0% cap · market cap 7.80%
Second Best
Apartment 5plus
$496.5K
$434.5K – $579.3K
NOI $34,758 @ 7.0% cap · market cap 6.75%
Theoretical Best
Office A
$788.9K
$690.3K – $920.4K
NOI $55,224 @ 7.0% cap · market cap 10.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
789
Businesses Nearby
Explore this area
Business Placement
Demographics for 77087, TX
34,654
Population
12,400
Households
2.8
Avg Household Size
35
Median Age
12%
College-Educated
63%
High-School Grad
6.6 sq mi
ZIP Area
5,251
Density / Sq Mi
$53,624
Median Household Income
$32,927
Median Earnings
$1,015
Median Rent
$148,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are leased and include appliances, laundry equipment, and living room furniture.
Where is this duplex located?
The property is located at Ab-3237 Real St Houston, TX.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: 3,068‑square‑foot duplex completed in 2022; Both units are leased; Each three‑story unit has 3 bedrooms and 3.5 bathrooms
